In the October 2007
issue:
Third Quarter 2007 M&A Results--
A Total Of 245 Deals Posted Worth $48.0 Billion
The third quarter of 2007 posted a total of
245 mergers and acquisitions in the health care industry, in keeping with
previous periods.
A total of $48.0 billion was committed to fund the third quarter’s M&A
activity.
The first three quarters of this year have already established 2007 as the
second-largest ever in terms of M&A dollar volume.
...
September’s M&A
Market--
Seventy Deals Announced Worth $5.4 Billion
September’s health care M&A market
saw the announcement of 70 transactions worth $5.4 billion.
While large private equity deals were absent from the market, strategic
buyers negotiated a healthy volume of transactions.
...
In the Departments
Services
-Deal Summaries
-Additional Transactions
-Transaction Updates
Technology
-Health Care
Technology
-Deal Summaries
-Additional
Transactions
-Transaction Updates
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Articles Archive
Companies Mentioned in this issue:
October 2007
A
Abbott Molecular p14
Adnexus Therapeutics p16
Aerocare Holdings p4
Air Liquide Group p7
Allergan p16
Allied Healthcare International p7
Amerigroup p9
Andventure p4
Antigen Laboratories p15
APEX International Clinical Research p10
Arcadia Resources p4
Array BioPharma p16
Ascension Health p8
Astra Tech p15
AstraZeneca p15
Atlantis Components p15
Atria Genetics p14
B
Bain Capital p4
Bank of America, N.A. p9
Banner Health p7
Barberton Citizens Hospital p7
Bellevue Woman’s Hospital p7
Berkeley HeartLab p15
Betapharm p16
Bristol-Myers Squibb p16
C
Caritas Christi Health Care p8
Carolinas HealthCare System p7
Catholic Health East p8
Catholic Health Initiatives p8
Celera Group p14
Celgene Corporation p15
Cleveland Clinic Foundation p7
Community Health Systems p7
Concateno Plc p15
Cowan and Company, LLC p10
Cozart p15
CRC Health Corporation p4
D
DaVita p10
Dechert p16
Deutsche Bank p15
Dr. Reddy’s Laboratories p16
E
Ellis Hospital p7
Emeritus Assisted Living p9
Eppendorf p15
Esprit Pharma p16
EuroConsult, Inc. p15
Evotec AG p10
Exceptional Children’s Foundation p4
F
Fairfax Anesthesiology Associates p9
G
Goldman Sachs p3
Good Samaritan Regional Medical Center, p8
Greater Southeast Community Hospital p8
H
Hackley Hospital p7
HomeChoice Partners p10
Humana p9
I
Inova Fairfax Hospital p10
Inova Health Systems p10
Isis Pharmaceuticals p10
J
Johnson & Johnson p10
K
Kayne Eras Center p4
KMG America p9
L
Lehman Brothers, Inc. p10
Links2Care p4
Loving Care Agency p4
M
McLaren Health Care Corp. p7
Memphis Managed Care Corp. p9
Mercy General Health Partners p7
MidSouth Health Solutions p9
MPM Bio IV NVS Strategic Fund, LP p16
MTS Health Investors p4
N
New Brunswick Scientific p15
Nile Therapeutics p10
North Oakland Medical Centers p7
Novant Health p7
Novartis AG p16
O
Oaktree Capital Management p4
Ortho-McNeil p10
P
Par Pharmaceutical Co. p16
PAREXEL International Corp. p10
Pediatrix Medical Group p9
Planet Technologies p14
POH Medical Center p7
Polymed p15
Pottsville Hospital and Warne Clinic p8
PriceWaterhouseCoopers p16
Primedex Health Systems p8
R
Radiation Therapy Services p8
Radius Health p16
RadNet Therapy Services p8
Raxbaxy Laboratories p16
Red Mortgage Capital p9
Renovis p10
River West Medical Center p7
Roche AG p16
Rowan Regional Medical Center p7
S
Shiloh Health Services p7
SMI Products p10
Specialty Hospitals of America p8
St. Clare’s Hospital p7
Structure House p4
Summa Health System p7
Sun Health p7
Sun Health Foundation p7
Sun Health Properties p7
Sun Pharmaceutical Industries p16
Symphony GenIsis p10
T
Taro p16
TLC Family Care Health Plan p9
Triad p7
Trinity Health p7
V
Valley Imaging Centers p8
Ventana Medical Systems p16
Z
Zenotech p16 |
September’s M&A Market--
Seventy Deals Announced Worth $5.4 Billion
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The month of September posted a total of 70 mergers and acquisitions in
the health care industry, as compared with 78 in the year-ago period,
September 2006. Forty-two deals, or 60% of the total M&A activity, took
place in the health care technology segment. The remaining 28 deals, or
40% of the total, were in the health care services sectors.
Based on prices available at
press time, a total of $5.4 billion was committed to fund this activity,
with the technology sectors accounting for $4.9 billion, or 91% of the
total. Just one deal, in the Pharmaceutical sector, came with a price tag
of over $1.0 billion. By comparison, September 2006 saw a total of $32.0
billion committed to finance health care M&A, with a total of five
billion-dollar deals. If we strip away four of those high-profile deals,
ones that involved European biotech and pharma companies, so there remains
one billion-dollar deal, as in September 2007, the combined value of the
remaining 74 deals was $5.5 billion, not so far off this year’s mark.
Among individual sectors,
Pharmaceuticals posted 19 transactions, or a whopping 27% of the month’s
deal volume. Not surprisingly, this sector also accounted for $3.9
billion, or 72% of the month’s dollar volume. The second most active
sector was Medical Devices, with 12 deals worth a combined $648.5 million,
which was followed by Biotechnology in third place with eight deals and
$369.3 million in total dollars committed. Among the services sectors,
Managed Care posted four deals worth a combined total of $273.7 million.
While Hospitals posted eight deals, including several mergers, their
combined purchase price was $1.00. Please refer to the
table on the bottom of page 4 of this month's
issue. And for the first time in memory, the Long-Term Care sector posted
a single deal, one worth $88.0 million. These latter two results are
aberrations from what we have come to expect, and we assume they will
correct themselves as more information becomes available. Still, such
aberrations give us reason to pause and we find ourselves now more
inclined than at any time in the past four years to summon up that old
chestnut of a Chinese curse, "May you live in interesting times." But not
just yet.
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